A government-appointed committee in Sweden said the Nordic country should set up a macro- prudential council to better spot risks and prevent future financial crises, Bloomberg reports.

“The council should promote increased expertise about systemic risks and the development of macroprudential tools and analyse risks in the financial system and discuss appropriate measures for counteracting these risks,” the Financial Crisis Committee said in a report.

The committee was appointed by the government last year to review the regulatory framework for dealing with financial crises.